In the event that you have outlived your family and friends, and there is no one that you want to leave your estate to, you may decide to leave your estate to a charity.
By nominating a charity in your Will ensures your estate is distributed the way YOU want. Not only to the charity but how the charity must apply the funds.
For example, you may consider leaving a bequest to the Cancer Council. You may elect for Cancer Council to apply the bequest for a general or specific purpose such as research, patient and support care services or cancer prevention programs. You may also leave a specific amount, a percentage of your estate, an asset or the whole of your estate to the charity.
Most charities also have suggested wording to be included in your Will to ensure the bequest is properly administered and your executor is discharged of its duties.
You do not have to inform the charity of the bequest, but the charity may wish to recognise your estate for the bequest after it has been received.
It is important to carefully consider the charities you may want to include in your Will, and to ensure the bequest is properly provided for in your Will.
If your Will requires review, please contact Cavelle Lindsay to review and update your Will, to ensure your estate is distributed the way you want it.
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